The United States Citizenship and Immigration Services (USCIS) is implementing new measures to ensure the integrity of the EB-5 Immigrant Investor Program. Here’s a summary:
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Mandatory Audits: USCIS will audit all designated regional centers at least once every five years, as required by the EB-5 Reform and Integrity Act of 2022.
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Enhanced Verification: Audits will review regional center documentation, investor capital flow, and information provided in applications, petitions, and annual certifications.
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Cooperation Expected: Regional center representatives are expected to participate in site visits during audits. Refusal to cooperate may result in termination of designation.
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Focus on Maintaining Eligibility: Negative audit results won’t directly impact associated entities or petitioners, but USCIS may use findings to evaluate a regional center’s eligibility and associated filings.
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Standardized Practices: Starting April 23, 2024, USCIS will adopt the Generally Accepted Government Auditing Standards (Yellow Book) for EB-5 regional center audits.
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Increased Transparency: A new USCIS webpage provides information for regional centers on the EB-5 Regional Center Audits process.
This initiative underscores USCIS’s commitment to a robust EB-5 program that upholds its intended purpose.
